After beginning to roll out services last month, PayPal’s Bitcoin trading platform is now completely available in the United Kingdom.
In a Tweet on Friday, PayPal stated that all qualified United Kingdom clients can now use their PayPal accounts to purchase, hold, and sell cryptocurrencies.
Users can trade four main digital currencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) (BCH). PayPal clients with validated identities will be the only ones able to participate in crypto trading, as previously indicated.
PayPal declared its intentions to enter the British marketplace at the end of August, and began rolling out crypto trading services in phases soon thereafter.
PayPal’s cryptocurrency services will now be available outside of the United States for the first time.
According to a PayPal representative:
“PayPal gradually rolled out its new crypto service to its UK customers. That process is complete…. We are keen to learn and observe how our customers use our buy, hold and sell crypto offering before we start to roll out more features and functionality”
Several U.K. banks have closed down payment channels to cryptocurrency exchanges as a result of PayPal’s foray into the local market.
HSBC, the world’s largest bank, suspended credit card payments to Binance in August over “concerns about possible risks” to its customers.
Other financial institutions, such as Barclays and NatWest, had already barred customers from making transfers to Binance.